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The purpose of this paper is to examine the effects of cross-border mergers and acquisitions (M&As) by firms in the emerging marketing on stock market cumulative abnormal returns (CARs). This research focuses on the acquiring firms in emerging markets and broadens the existing scope which highlights the M&As by firms in developed countries.

Regarding the controversial argument on the effect of cross-border M&As, the authors introduce a resource-based theory to explain the motivation of M&As by Chinese firms, conduct an event study analysis of 472 international acquisitions by Chinese firms from 2010 to 2015 and indicate cross-border M&As as a positive signal in the stock market.

The results reveal that cross-border M&As result in significantly positive CARs in a short term for the acquiring firms listed in mainland markets but not for that in the Hong Kong market. Furthermore, consistent with signaling theory and the investors’ heuristic thinking in decision-making, investors may adopt the technological innovation capability of the country where the target firms locate, and the acquiring firm’s preannouncement in shaping their positive judgment of the acquiring firm’s near future performance.

The authors distinguished the responses of the investors from the mainland and Hong Kong stock markets and investigated how the knowledge of the national innovation capability of the target firm and acquisition preannouncement influence the investors’ interpretation of the cross-border M&As as a market signal.

The purpose of this paper is to present a robotic off-line programming method for freeform surface grinding based on visualization toolkit (VTK). Nowadays, manual grinding and traditional robot on-line programming are difficult to ensure the surface grinding accuracy, thus off-line programming is gradually used in grinding, however, several problems are needed to be resolved which include: off-programming environment depends on the third-party CAD software, leads to insufficient self-development flexibility; single support for robot type or workpiece model format contributes to lack of versatility; grinding point data depends on external data calculation and import process, causes human-computer interaction deterioration.

In this method, the visualization pipeline and observer/command mode of VTK are used to display the 3D model of the robot grinding system and pick up the workpiece surfaces to be grinded respectively. Two groups of cutter planes with equidistant spacing are created to form the grinding nodes on the surface, and the extraction method for the position and posture of the nodes is proposed. Furthermore, the position and posture of discretized points along the grinding curve are obtained by B-spline curve interpolation and quaternion spherical linear interpolation respectively. Finally, the motion simulation is realized by robot inverse kinematics.

Through a watch case grinding experiment, the results show that the proposed method based on VTK can achieving high precision grinding effect, which is obviously better than traditional method.

The proposed method is universal which does not depend on the specific forms of surface, and all calculations in simulation are completed within the system, avoiding tedious external data calculation and import process. The grinding trajectory can be generated only by the mouse picking operation without relying on the other third-party CAD software.

To provide theoretical guidance on improving luxury brands’ marketing performance, this study aims to examine the impact mechanism and boundary conditions of luxury brand buyers’ consumption resources on observers’ brand attitudes from the perspective of consumers’ power distance beliefs (PDBs).

Four experimental studies were conducted. Study 1 examined the influence of the interaction of consumption resources and PDBs on luxury brand attitudes; Study 2 examined the mediating role of prestige perception. Study 3 excluded alternative explanations of (dis)association motivation and envy. Finally, Study 4 examined the moderating effect of brand relationship norms.

Consumers with low PDBs had lower attitudes towards luxury brands when consumption resources were acquired through luck (rather than effort). However, no significant difference in luxury brand attitudes was found between these two consumer groups when PDBs were high. Consumers’ perceptions of prestige played a mediating role in the main effect, whereas brand relationship norms moderated the main effect.

First, this study reveals the unique role of PDBs in shaping consumer attitudes towards luxury brands. Second, it uses consumption resources as a signal for luxury consumption and identifies a way to influence consumers’ attitudes towards luxury brands, namely, their perceptions of prestige. Third, it uncovers the influence of consumers’ brand relationship norms on the formation of luxury brand attitudes.

This paper aims at studying the concept of innovation ecosystems and investigating the factors affecting them based on their interrelationships with respect to different innovation archetypes.

The methodology is based on using multivariate statistical analysis of the inter-correlations among a number of variables which led to extracting a reduced set of new significant factors that affect China’s innovation ecosystem.

The results showed that innovation archetypes differ significantly with respect to the majority of the new factors.

Through identifying these challenges, decision-makers can develop a better understanding of the variables affecting each archetype of innovation and act accordingly.

The study is the first to fill the gap of addressing a large number of variables affecting innovation and analyzing their interrelationships.

The purpose of this paper is to investigate the relation between the investment horizon of institutional investors and corporate social responsibility (CSR).

Utilizing unique datasets on CSR and the investor horizon measures (Gaspar et al., 2005), the authors categorize institutional investors into long-term and short-term investors. This method captures the heterogeneity of investors.

The authors show that long-term institutional investors promote CSR engagement, while short-term investors discourage it. The authors further document that shareholders’ ownership horizon has implications on corporate decisions in the CSR framework. The presence of long (short)-term institutional investors is positively (negatively) associated with dividend payout, discourages (encourages) managerial misbehaviors and enhances (reduces) firm valuation, only for firms with high CSR performance.

Different from previous studies that treat institutional investors homogeneously, this paper provides empirical support that investors are indeed different in influencing CSR.

Few prior studies address the question of whether active engagement by institutional shareholders on CSR issues differs by the types of institutional ownership. The study attempts to fill this gap by examining the effects of institutions’ investment horizon, one of the major ways to classify institutional shareholders, on the CSR performance of firms.

The innovation process demands an interaction between environment agents, knowledge generators and policies of incentive for innovation and not only development by companies. Universities have gradually become the core of the knowledge production system and, therefore, their role regarding innovation has become more important and diversified. This study is aimed at identifying the mechanisms of university–industry (U–I) collaboration, as well as the operationalization steps of the U–I collaboration process.

This study is aimed at identifying, based on a systematic literature review, the mechanisms of university–industry (U–I) collaboration, as well as the operationalization steps of the U–I collaboration process.

The analysis of the 72 selected articles enabled identifying 15 mechanisms of U–I collaboration, proposing a new classification for such mechanisms and developing a framework presenting the operationalization steps of the interaction process.

In this paper, the authors screened nearly 1,500 papers and analyzed in detail 86 papers addressing U–I collaboration, mechanisms of U–I collaboration and operationalization steps of the U–I collaboration process. This paper provides a new classification for such mechanisms and developing a framework presenting the operationalization steps of the interaction process. This research contributes to both theory and practice by highlighting managerial aspects and stimulating academic research on such timely topic.

The former residences of historical figures are typical landscape elements of historic districts, which are characterised by the styles of these residences and spiritual historical figures cultures. The purpose of this paper is to determine how the former residences respond once the historical figures living there have passed.

The history of human culture and progression of urban construction – which are submerged in societal transformation – is recorded for old Beijing city. Narrative space theory is used and methods such as a content analysis, map overlay and the Geographic Information System are employed to analyse the selected 300 former residences of historical figures in old Beijing city.

The results are as follows: the political setting played a key role in the evolution process, three political narrative areas in the inner city and one cultural narrative area in the outer city form the narrative spatial structure of the former residences of historical figures, “government construction” and “resident construction” are the main reasons for the loss and destruction of narrative spaces and ordinary life is an important channel for showcasing the history of former residences. The narrative spaces of these residences carry double histories, namely, the development of human history and of city construction.

Different from former studies that focus on the preservation of the single historical building, this study explores the integral logic of historic buildings in the whole city through narrative space theory to get a combination of culture and space.